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Your textbook notes a new form of policy experiment that would provide everyone with a guaranteed income called Universal Basic Income.
What is a Universal Basic Income (UBI)?
- UBI is a government scheme in which every adult citizen receives a set amount of money on a regular basis.
- A basic income system's aims are to reduce poverty and to replace existing need-based social programs that may require more bureaucratic engagement.
- The concept of universal basic income has gained traction in the United States as automation replaces labor in manufacturing and other sectors of the economy.
- A recent two-year experiment in Finland in which universal basic income essentially replaced unemployment benefits found that UBI users were no more likely than the control group to obtain new work.
To learn more about Universal Basic Income from the given link
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